AI proptech startup EliseAI is in talks to raise a new round of funding at a $3.7 billion valuation.

A cross-vertical AI-native software company operating in proptech and healthcare.

Without the valuation premium the market currently awards to artificial intelligence companies, EliseAI would have hardly reached a $3.7 billion valuation.

Until recently, market conditions were clear and strict. If a traditional software company attempted to sell services simultaneously in property management (PropTech) and healthcare (HealthTech), investors would have avoided it, viewing it as a business lacking focus. In traditional business, these two sectors were like "apples and oranges"—two entirely different fruits that simply did not mix.

EliseAI started strictly as a PropTech company, and only after proving its business model there did it expand into HealthTech. Today, as a unicorn, it is both at the same time.

The Pitfall of the Bubble and Hype

However, this new reality conceals a massive amount of hype. The market is flooded with an artificial "bubble," where investors throw millions at startups that simply slap the term "AI" onto their pitch decks without a real product or actual revenue. The data bears this out: numerous AI startups have already shut down or been acquired throughout 2025–2026, while the market consistently rewarded companies that stayed focused on a single vertical, a single buyer, and a single workflow.